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Results: 11-20 of 390

FinCEN releases report regarding mortgage fraud

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 27 2009

On March 16, the Financial Crimes Enforcement Network, an agency of the U.S. Treasury (FinCEN), released a report entitled Mortgage Loan Fraud Connections with Other Financial Crime that outlines how subjects reported by depository institutions to the agency for suspected mortgage loan fraud may also be involved in other financial crimes such as check fraud, money laundering, stock manipulation and currency structuring to avoid transaction reporting requirements and other crimes

Securities fraud claim survives despite post-fraud stock recovery

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 10 2012

The U.S. Court of Appeals for the Second Circuit recently considered whether a stock’s share price recovery soon after the fraud became known defeats an inference of economic loss in a securities fraud suit at the pleading stage

FSA imposes ban and highest-ever fine on individual

  • Katten Muchin Rosenman LLP
  • -
  • United Kingdom
  • -
  • May 28 2010

On May 20, the UK Financial Services Authority (FSA) announced that it had fined Simon Eagle £2.8 million (approximately $4 million) and prohibited him from working in financial services as a result of the deliberate market abuse scheme he had carried out in 2003-2004

TOUSA fraudulent transfer decision reversed by district court

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 22 2011

Reversing a controversial decision and judgment of the bankruptcy court, the United States District Court for the Southern District of Florida has held that a group of lenders who received payment in settlement of their defaulted debt from the proceeds of new loans secured by the assets of certain subsidiaries of TOUSA, Inc. which were not themselves liable on that debt, did not receive fraudulent transfers

Allegations of corporate “hijacking” state fraud claim against corporate attorney

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • June 25 2010

The U.S. District Court for the Southern District of New York recently denied defendant Nicolette Loisel’s motion to dismiss a Securities and Exchange Commission complaint against her and four co-defendants, which alleged, among other things, violations of Section 10(b) of the Securities Exchange Act and Rule 10(b)(5), promulgated thereunder

ESMA issues statement on short selling and market abuse

  • Katten Muchin Rosenman LLP
  • -
  • European Union
  • -
  • August 19 2011

On August 11, in the context of the short selling restrictions introduced by Belgium, France, Italy and Spain, the European Securities and Markets Authority (ESMA) issued a statement reiterating the requirements set out in the European Union Market Abuse Directive (MAD) and implemented in national laws that prohibit the dissemination of information which gives, or is likely to give, false or misleading signals as to financial instruments

DOJ continues to expand scope of FCPA

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • July 21 2009

The Foreign Corrupt Practices Act (FCPA) prohibits individuals or companies from bribing foreign government officials to obtain or retain business

Class certification of fraud claim denied

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 28 2011

A federal district court recently held that a group of aggrieved consumers will not be able to pursue their fraud claims as a class against the company that purportedly deceived them because the company's growing awareness that the customers would not receive their merchandise raised questions of fact requiring individualized adjudication

Civil RICO complaint based on alleged diamond scheme dismissed

  • Katten Muchin Rosenman LLP
  • -
  • India, USA
  • -
  • November 5 2010

The U.S. District Court for the Southern District of Florida dismissed a civil Racketeer Influenced and Corrupt Organizations Act complaint based on a series of investments made with a group of India-based companies

Dismissal of securities fraud claim involving Hurricane Katrina losses affirmed

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 15 2010

The U.S. Court of Appeals for the Second Circuit affirmed the district court’s dismissal of a securities fraud class action suit brought against defendant PXRE Group, Ltd. (a reinsurance company) and its officers and directors because plaintiffs failed to adequately plead scienter